How Big is the Personal Loan Market | Opportunities & Key Drivers 2025

Q: What is the size of the Personal Loan market?

The Personal Loan market was estimated at USD 950 billion in 2024 and is projected to reach USD 1300 billion by 2031.

Q: What factors are driving the Personal Loan industry?

Growth factors include digital lending platforms, consumer credit demand, favourable policies, and financial inclusion initiatives.

Q: Which sectors drive high adoption of Personal Loans?

Salaried individuals, self-employed professionals, and urban and semi-urban consumers are key adopters.

Q: Who are the major players in the Personal Loan market?

Major companies include HDFC Bank, SBI, ICICI Bank, Axis Bank, Citibank, Bank of America, Discover, and Wells Fargo.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA7876

Publication Date: Aug 2025

What is the size of Personal Loan Market?

According to 6Wresearch internal database and industry insights, Global Personal Loan Market was estimated at USD 950 billion in 2024 and is projected to reach USD 1300 billion by 2031, expanding at a CAGR of 3.60% during the forecast period 2025-2031.

Due to several growth factors include the increasing disposable income, rising digital lending platforms, favourable government policies, and growing consumer credit awareness, Personal Loan Market is predicted to rise in the forthcoming years.

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Key Growth Drivers of the Personal Loan Market

The adoption of online lending and digital platforms is increasingÂ
The demand for consumer credit for personal expenses and emergencies is risingÂ
Lower interest rates and flexible repayment options
Expanding penetration of financial services in urban and semi-urban areas
Government initiatives promoting financial inclusion and credit access

Personal Loan Market Trends

Personal Loan Market is witnessing an upswing growth through fintech platforms offering quick approval, minimal documentation, and competitive interest rates. Personalized loan products, digital KYC, and mobile-first applications are increasing adoption. Collaboration between banks and fintech lenders is accelerating reach.

Emerging Developments in the Personal Loan Market

Personal Loan Market is experiencing some emerging developments such as AI and ML for credit scoring and risk assessment, blockchain-based secure transactions. Alongside, the market is integrated with digital wallets, boosting the market growth. On the other hand, unsecured personal loan products and peer-to-peer lending platforms are expanding gradually and gaining traction. These developments are enhancing the presence of the market.

List of Leading Companies in the Personal Loan Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1. HDFC Bank

Company Name	HDFC Bank
Established Year	1994
Headquarters	Mumbai, India
Official Website	*Click Here*

HDFC Bank provides personal loans for education, travel, and healthcare with flexible repayment and quick processing options.

2. State Bank of India (SBI)

Company Name	State Bank of India (SBI)
Established Year	1955
Headquarters	Mumbai, India
Official Website	*Click Here*

State Bank of India offers personal loan solutions for salaried and self-employed customers with competitive interest rates and an extensive branch network.